MOFPI:- set up in the year1988 Union Minister:-Shri Sharad Pawar strategic role and functions are fall under three categories

Impact of Union Budgets on FPI , excise duty reduced to 0 from 16% , 100% tax reduction on profit for 5 years and 25% for next 5 years Fruits and vegetable processing industry , grant up to 33.33% on Plant & Machinery (maximum of Rs.75 lakhs ). Food grain milling industry , Excise duty on fish processing has been reduced from 16% to 8% , Excise Duty has been waived on fish processing. Marine product industry

, Excise duty on meat and poultry has been reduced from 16% to 8% , Excise Duty has been waived on meat and poultry poultry and eggs, meat and meat products , Excise duty of 16% on dairy machinery has been reduced to 0% , Excise Duty has been waived on condensed milk and ice cream , Customs duty on bactofuges reduced from 7.5 % to 0% Dairy products industry ,excise duty on biscuits, boiled sweets, etc has been reduced from 16% to 8% ,Excise duty on biscuits reduced from 8% to 0% (< Rs100/1kg) , ready to eat packaged foods fully exempt from excise duty. Bread, biscuits and other ready to eat food products , Excise duty on food-grade hexane has been reduced from 32% to 16% , Excise duty of Re 1/kg on refined edible oil abolished , Custom duty on sunflower oil (crude) reduced from 65% to 50%. Edible oil industry Impact of Union Budgets on FPI

, excise duty reduced from 32% to 24% , Excise Duty reduced from 24% to 16% Aerated waters / soft drinks , duty on packaging machines is reduced from 15 % to 5 % , Excise duty reduced on specified packaging material and packing paper to 8% Packaging for food processing industries , Automatic approval for foreign equity upto 100% is available , customs duty on refrigerated truck has been reduced from 25% to 20% , Customs duty on refrigerated vans reduced from 20% to 10% ,To ensure availability of credit:- FPI included in the list of priority sector for bank lending , NABARD has created a refinancing window with a corpus of Rs.1000 crore , Custom duty on food processing machinery reduced from 7.5% to 5% , fund of Rs 5, 000 cr in NABARD to enhance its refinance operations , External commercial borrowing facility available to the food processing industry Assistance to food processing industry Impact of Union Budgets on FPI